COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.:1166S.05P Bill No.:Perfected SS for SB 181 Subject:Insurance - General; Workers' Compensation; Banks and Financial Institutions;
Commerce and Insurance, Department of; Insurance - General; Insurance -
Property; Mortgages And Deeds
Type:Original Date:March 23, 2023Bill Summary:This proposal enacts provisions relating to property and casualty insurance.
FISCAL SUMMARY
ESTIMATED NET EFFECT ON GENERAL REVENUE FUNDFUND AFFECTEDFY 2024FY 2025FY 2026Total Estimated Net
Effect on General
Revenue $0$0$0
ESTIMATED NET EFFECT ON OTHER STATE FUNDSFUND AFFECTEDFY 2024FY 2025FY 2026Total Estimated Net
Effect on Other State
Funds $0$0$0
Numbers within parentheses: () indicate costs or losses. L.R. No. 1166S.05P
Bill No. Perfected SS for SB 181
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ESTIMATED NET EFFECT ON FEDERAL FUNDSFUND AFFECTEDFY 2024FY 2025FY 2026Total Estimated Net
Effect on All Federal
Funds $0$0$0
ESTIMATED NET EFFECT ON FULL TIME EQUIVALENT (FTE)FUND AFFECTEDFY 2024FY 2025FY 2026Total Estimated Net
Effect on FTE 000
☐ Estimated Net Effect (expenditures or reduced revenues) expected to exceed $250,000 in any
of the three fiscal years after implementation of the act or at full implementation of the act.
☐ Estimated Net Effect (savings or increased revenues) expected to exceed $250,000 in any of
the three fiscal years after implementation of the act or at full implementation of the act.
ESTIMATED NET EFFECT ON LOCAL FUNDSFUND AFFECTEDFY 2024FY 2025FY 2026Local Government$0$0$0 L.R. No. 1166S.05P
Bill No. Perfected SS for SB 181
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FISCAL ANALYSIS
ASSUMPTION
Officials from the Department of Commerce and Insurance, Kansas City and the City of
Springfield each assume the proposal will have no fiscal impact on their respective
organizations. Oversight does not have any information to the contrary. Therefore, Oversight
will reflect a zero impact in the fiscal note.
In response to a similar proposal from this year (HB 655), officials from the Department of
Labor and Industrial Relations assumed the proposal will have no fiscal impact on their
organization. Oversight does not have any information to the contrary. Therefore, Oversight will
reflect a zero impact in the fiscal note.
Oversight notes Sections 287.900 – 287.920 RSMo, creating the Missouri Employers Mutual
Insurance Company were established in law in 1993 (SB 251) and the sections have not been
altered in subsequent years.
Rule Promulgation
Officials from the Joint Committee on Administrative Rules assume this proposal is not
anticipated to cause a fiscal impact beyond its current appropriation.
In response to a previous version, officials from the Office of the Secretary of State (SOS)
noted many bills considered by the General Assembly include provisions allowing or requiring
agencies to submit rules and regulations to implement the act. The SOS is provided with core
funding to handle a certain amount of normal activity resulting from each year's legislative
session. The fiscal impact for this fiscal note to the SOS for Administrative Rules is less
than $5,000. The SOS recognizes that this is a small amount and does not expect that
additional funding would be required to meet these costs. However, the SOS also recognizes
that many such bills may be passed by the General Assembly in a given year and that
collectively the costs may be in excess of what the office can sustain with its core budget.
Therefore, the SOS reserves the right to request funding for the cost of supporting administrative
rules requirements should the need arise based on a review of the finally approved bills signed by
the governor.
Oversight only reflects the responses received from state agencies and political subdivisions;
however, other cities were requested to respond to this proposed legislation but did not. A listing
of political subdivisions included in the Missouri Legislative Information System (MOLIS)
database is available upon request. L.R. No. 1166S.05P
Bill No. Perfected SS for SB 181
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FISCAL IMPACT – State GovernmentFY 2024
(10 Mo.)
FY 2025FY 2026$0$0$0FISCAL IMPACT – Local GovernmentFY 2024
(10 Mo.)
FY 2025FY 2026$0$0$0
FISCAL IMPACT – Small Business
Certain small insurance companies could be impacted by this proposal.
FISCAL DESCRIPTION
The proposed legislation appears to have no direct fiscal impact.
This legislation is not federally mandated, would not duplicate any other program and would not
require additional capital improvements or rental space.
SOURCES OF INFORMATION
Department of Commerce and Insurance
Office of the Secretary of State
Joint Committee on Administrative Rules
Department of Labor and Industrial Relations
Kansas City
City of Springfield
Julie MorffRoss StropeDirectorAssistant DirectorMarch 23, 2023March 23, 2023